What's Wrong with Socialism?

What's wrong with socialism? The answer is that it doesn't work.

Socialism is an economic system that has been tried by countries across the world, and has always led to poverty of the masses. In socialism, everyone is poor except the rulers.

Why does socialism lead to poverty? The answer is that socialism punishes the ambitious and rewards the lazy by taking away private property and making it public. Given this, more and more people become lazy. And soon enough, the entire country becomes less productive, bringing less money into the country, thus leading to poverty within the country.

In socialism, the government owns the property rather than the citizens. Government-owned businesses are often run poorly, since there are no direct consequences for running a business poorly within socialist countries.

For example, if a business produces shoddy products or runs out of a product, this is no big deal in a socialist country, since the government owns all the businesses and has captive customers within the country. Since the government doesn't have to worry about losing customers, there is no direct pressure to produce better products or make them available in a timely manner.

It amazes me that there are currently people who actually believe that socialism is a better economic system than capitalism.

What's wrong with socialism? Look around. Look at the other socialist countries. Look at how poorly they're doing economically compared to capitalistic countries.